Commodities Buzz: Gold Speculative Longs Down For Four Times In Last Five Weeks

Large precious metals speculators continued to trim their bullish net positions in the Gold futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 155,372 contracts in the data reported through Tuesday April 10th. This was a weekly drop of -11,217 contracts. Speculative positions fell for a second week and have now declined for four out of the past five weeks. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -175,652 contracts on the week. This was a weekly gain of 13,213 contracts.